Newpark Resources Inc. (NR) Trading Up 5.7%
Shares of Newpark Resources Inc. (NYSE:NR) were up 5.7% during mid-day trading on Tuesday . The stock traded as high as $6.15 and last traded at $6.09, with a volume of 190,454 shares traded. The stock had previously closed at $5.76.
Several analysts recently issued reports on NR shares. Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Wednesday, July 6th. Tudor Pickering upgraded Newpark Resources from a “hold” rating to a “buy” rating in a report on Monday, May 2nd. Credit Suisse Group AG upgraded Newpark Resources from a “neutral” rating to an “outperform” rating and set a $6.00 price target for the company in a report on Wednesday, June 1st. Finally, Capital One Financial Corp. upgraded Newpark Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $5.00 to $6.00 in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $6.38.
The stock has a 50 day moving average price of $5.41 and a 200 day moving average price of $4.68. The firm’s market capitalization is $507.19 million.
Newpark Resources (NYSE:NR) last released its quarterly earnings results on Thursday, April 28th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.03. The company earned $114.54 million during the quarter, compared to the consensus estimate of $134.09 million. The company’s revenue for the quarter was down 45.1% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. On average, equities research analysts anticipate that Newpark Resources Inc. will post ($0.55) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Newpark Resources stock. First Trust Advisors LP raised its position in Newpark Resources Inc. (NYSE:NR) by 22.2% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 536,418 shares of the company’s stock after buying an additional 97,468 shares during the period. First Trust Advisors LP owned approximately 0.64% of Newpark Resources worth $2,832,000 at the end of the most recent quarter.
Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems and Mats and Integrated Services. Fluids Systems segment provides drilling fluids solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling, to E&P customers in North America, Europe, the Middle East and Africa (EMEA), Latin America, and Asia Pacific.
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